My company's website was designed by a friend a few years ago. However, i feel that this needs to be updated and given the wow factor! How would you suggest the best way to go about redesigning my existing website and getting this into the top ten search engines in the United Kindom?

How can ANY of us make ANY suggestion if you don't give us a clue about what your site has to be about? Generally speaking, make a research among your competitors's sites, find out how you would like it, and then plan well your site before you start building.
As to resulting between the first ten in UK, it depends on many factors: what business you are in, how serious your competitors' sites are, how good a job you will do with your own site, how you will manage your meta tags, what are your keywords, etc.

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A very good starting point is the below link....

http://www.vodahost.com/vodatalk/pre...r-website.html

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